On January 1, 2020, Kaldex Company purchased for $35,720 equipment with an estimated useful life of eight
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On January 1, 2020, Kaldex Company purchased for $35,720 equipment with an estimated useful life of eight years and an estimated residual value at the end of its life of $4,200. Early in January 2023, it was determined that the total estimated useful life on the equipment should be 10 years with a revised estimated residual value of $1,570. Kaldex uses the straight-line method to calculate depreciation and its year-end is December 31. Calculate revised depreciation for 2023.
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Related Book For
Fundamental Accounting Principles Volume I
ISBN: 978-1260305821
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
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